Common use of Payments to the Fiscal Agent Clause in Contracts

Payments to the Fiscal Agent. 7.1 In order to provide for the payment of interest and principal or, as the case may be, redemption amount in respect of the Covered Bonds of each Series as the same shall become due and payable the Issuer shall: (a) pay to the Fiscal Agent on or before the date on which such payment becomes due an amount equal to the amount of principal, redemption amount or, as the case may be, interest (including for this purpose any amounts remaining payable in respect of uncancelled Coupons pertaining to Definitive Bearer Covered Bonds which have been cancelled following their purchase in accordance with Condition 5 (Redemption and Purchase)) then becoming due in respect of such Covered Bonds; and (b) in the case of a NGCB Temporary Global Covered Bond or a NGCB Permanent Global Covered Bond or a Global Registered Covered Bond to be held under the NSS only, shall procure that the Fiscal Agent (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) obtains from the ICSDs confirmation that the records of the ICSDs as to amounts payable on a relevant payment date and the records of the Fiscal Agent as to amounts payable on a relevant payment date are identical. 7.2 Each amount payable by the Issuer under Clause 7.1 shall be paid unconditionally by credit transfer in the currency in which the Covered Bonds of the relevant Series are denominated or, if different, payable and in immediately available, freely transferable funds not later than 11.00 a.m. (local time) on the relevant day to such account with such bank as the Fiscal Agent may by notice to the Issuer have specified for the purpose. The Issuer shall, before 11.00 a.m. (local time) on the second local banking day before the due date of each payment by it under Clause 7.1, confirm to the Fiscal Agent by facsimile that it has given irrevocable instructions for the transfer of the relevant funds to the Fiscal Agent and the name and the account of the bank through which such payment is being made. 7.3 The Fiscal Agent shall be entitled to deal with each amount paid to it hereunder in the same manner as other amounts paid to it as a banker by its customers provided that: (a) it shall not against the Issuer exercise any lien, right of set-off or similar claim in respect thereof; and (b) it shall not be liable to any person for interest thereon. 7.4 The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clauses 8.4 and 8.5 and shall not be obliged to repay any such amount unless or until the obligation to make the relevant payment becomes void or ceases in accordance with Condition 8 (Prescription), in which event it shall repay to the Issuer such portion of such amount as relates to such payment by paying the same by credit transfer to such account with such bank as the Issuer may by notice to the Fiscal Agent have specified for the purpose. The Fiscal Agent shall not be bound to make any payment until satisfied that full payment has been received from the Issuer in cleared funds. 7.5 If the Fiscal Agent has not, by 12.00 noon (local time) on the second local banking day before the due date of any payment to it under Clause 7.1, received notification of the relevant payment confirmation referred to in Clause 7.2 it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof and in such event none of the Paying Agents shall be bound to make payment of any amount due on any Covered Bond. If the Fiscal Agent subsequently receives notification of such payment instructions or payment of the amount due, it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof. 7.6 If the Fiscal Agent has not by 10.00 a.m. (Local Time) on the due date of any payment received confirmation from the ICSDs (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) that the records of the ICSDs as to amounts payable on a relevant payment date are identical to the records of the Fiscal Agent as to amounts payable on a relevant payment date under paragraph (b) of Clause 7.1, it shall as soon as reasonably practicable notify the Issuer and the Paying Agents thereof. If the Fiscal Agent subsequently receives confirmation of such reconciliation of records, it shall as soon as reasonably practicable notify the Issuer and the Paying Agents thereof. 7.7 The Fiscal Agent shall withhold its pre-advice to the relevant clearing systems with respect to redemption payments for Covered Bonds in global form for which an Extended Maturity Date is specified as being applicable in the relevant Final Terms until (i) a confirmation of payment instructions is received by the Fiscal Agent pursuant to Clause 7.2 or (ii) receipt by the Fiscal Agent of the full amount of the relevant payment in accordance with Clause 7.1.

Payments to the Fiscal Agent. 7.1 10.1 In order to provide for the payment of interest and principal any Interest Amount, Yield Amount, Redemption Amount or, as the case may be, redemption amount Settlement Amount in respect of the Covered Bonds Instruments of each Series as the same shall become due and payable the Issuer shall: (a) shall pay to the Fiscal Agent on or before the date on which such payment becomes due an amount equal to the amount of principalthe Settlement Amount, redemption amount Redemption Amount or, as the case may be, interest (including for this purpose any amounts remaining payable in respect of uncancelled Coupons pertaining to Definitive Bearer Covered Bonds which have been cancelled following their purchase in accordance with Condition 5 (Redemption and Purchase)) Interest Amount or Yield Amount then becoming due in respect of such Covered Bonds; and (b) in the case of a NGCB Temporary Global Covered Bond or a NGCB Permanent Global Covered Bond or a Global Registered Covered Bond to be held under the NSS only, shall procure that the Fiscal Agent (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) obtains from the ICSDs confirmation that the records of the ICSDs as to amounts payable on a relevant payment date and the records of the Fiscal Agent as to amounts payable on a relevant payment date are identicalInstruments. 7.2 10.2 Each amount payable by the Issuer under Clause 7.1 10.1 shall be paid unconditionally by credit transfer in the currency in which the Covered Bonds Instruments of the relevant Series are denominated or, if different, payable and in immediately available, freely transferable funds not later than 11.00 a.m. (local time) on the relevant day to such account with such bank as the Fiscal Agent may by notice to the Issuer have specified for the purpose. The Issuer shall, before 11.00 a.m. (local time) on the second local banking day before the due date of each payment by it under Clause 7.110.1, confirm to the Fiscal Agent by facsimile fax or email that it has given irrevocable instructions for the transfer of the relevant funds to the Fiscal Agent and the name and the account of the bank through which such payment is being made. 7.3 10.3 The Fiscal Agent shall be entitled to deal with each amount paid to it hereunder in the same manner as other amounts paid to it as a banker by its customers provided that: (a) 10.3.1 it shall not against the Issuer exercise any lien, right of set-off or similar claim in respect thereof; and; (b) 10.3.2 it shall not be liable to any person for interest thereon; 10.3.3 any money held by it need not be segregated except as required by law; and 10.3.4 any money held by it is not subject to the UK FCA Client Money Rules. 7.4 10.4 The Fiscal Agent shall apply each amount paid to it hereunder in accordance with Clauses 8.4 and 8.5 Clause 11.3 and shall not be obliged to repay any such amount unless or until the obligation to make claims against the Issuer in respect of the relevant payment becomes void or ceases Registered Instruments are prescribed in accordance with Condition 8 15 (Prescription), in which event it shall repay to the Issuer such portion of such amount as relates to such payment Registered Instruments by paying the same by credit transfer to such account with such bank as the Issuer may by notice to the Fiscal Agent have specified for the purpose. The Fiscal Agent shall not be bound to make any payment until satisfied that full payment has been received from the Issuer in cleared funds. 7.5 If the Fiscal Agent has not, by 12.00 noon (local time) on the second local banking day before the due date of any payment to it under Clause 7.1, received notification of the relevant payment confirmation referred to in Clause 7.2 it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof and in such event none of the Paying Agents shall be bound to make payment of any amount due on any Covered Bond. If the Fiscal Agent subsequently receives notification of such payment instructions or payment of the amount due, it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof. 7.6 If the Fiscal Agent has not by 10.00 a.m. (Local Time) on the due date of any payment received confirmation from the ICSDs (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) that the records of the ICSDs as to amounts payable on a relevant payment date are identical to the records of the Fiscal Agent as to amounts payable on a relevant payment date under paragraph (b) of Clause 7.1, it shall as soon as reasonably practicable notify the Issuer and the Paying Agents thereof. If the Fiscal Agent subsequently receives confirmation of such reconciliation of records, it shall as soon as reasonably practicable notify the Issuer and the Paying Agents thereof. 7.7 The Fiscal Agent shall withhold its pre-advice to the relevant clearing systems with respect to redemption payments for Covered Bonds in global form for which an Extended Maturity Date is specified as being applicable in the relevant Final Terms until (i) a confirmation of payment instructions is received by the Fiscal Agent pursuant to Clause 7.2 or (ii) receipt by the Fiscal Agent of the full amount of the relevant payment in accordance with Clause 7.1.

Payments to the Fiscal Agent. 7.1 6.1 In order to provide for the payment of interest and principal or, as the case may be, redemption any other amount payable in respect of the Covered Bonds Notes of each Series as the same shall become due and payable payable, the Issuer shall: (a) shall pay to the Fiscal Agent on or before the date on which such payment becomes due an amount equal to the amount of principal, redemption amount principal or, as the case may be, interest (including for this purpose any amounts remaining payable in respect of uncancelled Coupons pertaining to Definitive Bearer Covered Bonds Notes which have been cancelled following their purchase in accordance with Condition 5 (Redemption the Terms and Purchase)Conditions) then becoming due in respect of such Covered Bonds; and (b) in the case of a NGCB Temporary Global Covered Bond Notes or a NGCB Permanent Global Covered Bond or a Global Registered Covered Bond to be held under the NSS only, shall procure that the Fiscal Agent (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) obtains from the ICSDs confirmation that the records of the ICSDs as to amounts payable on a relevant payment date and the records of the Fiscal Agent as to amounts payable on a relevant payment date are identicalany other amount payable. 7.2 6.2 Each amount payable by the Issuer under Clause 7.1 6.1 shall be paid unconditionally by credit transfer in the currency in which the Covered Bonds Notes of the relevant Series are denominated or, if different, payable and in immediately available, freely transferable funds not later than 11.00 10.00 a.m. (local time) on the relevant day to such account with such bank as the Fiscal Agent may by notice to the Issuer have specified for the purpose. The Issuer shall, before 11.00 10.00 a.m. (local time) on the second local banking day before the due date of each payment by it under Clause 7.16.1, confirm to the Fiscal Agent by facsimile that it has given irrevocable instructions for the transfer of the relevant funds to the Fiscal Agent and the name and the account of the bank through which such payment is being made. 7.3 6.3 The Fiscal Agent shall be entitled to deal with each amount paid to it hereunder in the same manner as other amounts paid to it as a banker by its customers provided that: (a) it shall not against the Issuer exercise any lien, right of set-off or similar claim in respect thereof; and; (b) it shall not be liable to any person for interest thereon; (c) money held by it need not be segregated except as required by law; and (d) amounts held by it shall not be held subject to the Client Money Distribution and Transfer Rules. 7.4 6.4 The Fiscal Agent is hereby irrevocably instructed by the Issuer that any funds paid by or by arrangement with the Issuer to the Fiscal Agent under Clause 6.1 above shall apply each amount paid be held in the relevant account referred to it hereunder in accordance with Clauses 8.4 Clause 6.2 above and 8.5 shall be applied towards payment to the Holders so that the Issuer shall have no claim to or on account of any such funds unless such purpose cannot be effected and the Fiscal Agent shall not be obliged to repay any such amount unless or until the obligation to make claim for the relevant payment becomes void or ceases in accordance with under Condition 8 14 (Prescription), in which . In that event it the Fiscal Agent shall repay to the Issuer such portion of such amount as relates to such payment any sums held by paying the same by credit transfer to such account it in accordance with such bank as the Issuer may by notice to the Fiscal Agent have specified for the purpose. The Fiscal Agent shall not be bound to make any payment until satisfied that full payment has been received from the Issuer in cleared fundsClause 6. 7.5 If the Fiscal Agent has not, by 12.00 noon (local time) on the second local banking day before the due date of any payment to it under Clause 7.1, received notification of the relevant payment confirmation referred to in Clause 7.2 it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof and in such event none of the Paying Agents shall be bound to make payment of any amount due on any Covered Bond. If the Fiscal Agent subsequently receives notification of such payment instructions or payment of the amount due, it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof. 7.6 6.5 If the Fiscal Agent has not by 10.00 a.m. (Local Timea.m.) (local time) on the due date of any payment received confirmation from the ICSDs (in accordance with the provisions of Schedule 10 (Duties full amount payable under the Issuer-ICSDs Agreement)) that the records of the ICSDs as to amounts payable on a relevant payment date are identical to the records of the Fiscal Agent as to amounts payable on a relevant payment date under paragraph (b) of Clause 7.1, 6.1 it shall as soon as reasonably practicable forthwith notify the Issuer and the Paying Agents thereof. If the Fiscal Agent subsequently receives confirmation payment of such reconciliation of recordsthe amount due, it shall as soon as reasonably practicable forthwith notify the Issuer and the Paying Agents thereof. 7.7 The Fiscal Agent shall withhold its pre-advice to the relevant clearing systems with respect to redemption payments for Covered Bonds in global form for which an Extended Maturity Date is specified as being applicable in the relevant Final Terms until (i) a confirmation of payment instructions is received by the Fiscal Agent pursuant to Clause 7.2 or (ii) receipt by the Fiscal Agent of the full amount of the relevant payment in accordance with Clause 7.1.

Payments to the Fiscal Agent. 7.1 ‌ 6.1 In order to provide for the payment of interest and principal or, as the case may be, redemption any other amount payable in respect of the Covered Bonds Notes of each Series as the same shall become due and payable payable, the Issuer shall: (a) shall pay to the Fiscal Agent on or before the date on which such payment becomes due an amount equal to the amount of principal, redemption amount principal or, as the case may be, interest (including for this purpose any amounts remaining payable in respect of uncancelled Coupons pertaining to Definitive Bearer Covered Bonds Notes which have been cancelled following their purchase in accordance with Condition 5 (Redemption the Terms and Purchase)Conditions) then becoming due in respect of such Covered Bonds; andNotes or any other amount payable.‌ (b) in the case of a NGCB Temporary Global Covered Bond or a NGCB Permanent Global Covered Bond or a Global Registered Covered Bond to be held under the NSS only, shall procure that the Fiscal Agent (in accordance with the provisions of Schedule 10 (Duties under the Issuer-ICSDs Agreement)) obtains from the ICSDs confirmation that the records of the ICSDs as to amounts payable on a relevant payment date and the records of the Fiscal Agent as to amounts payable on a relevant payment date are identical. 7.2 6.2 Each amount payable by the Issuer under Clause 7.1 6.1 shall be paid unconditionally by credit transfer in the currency in which the Covered Bonds Notes of the relevant Series are denominated or, if different, payable and in immediately available, freely transferable funds not later than 11.00 10.00 a.m. (local time) on the relevant day to such account with such bank as the Fiscal Agent may by notice to the Issuer have specified for the purpose. The Issuer shall, before 11.00 10.00 a.m. (local time) on the second local banking day before the due date of each payment by it under Clause 7.16.1, confirm to the Fiscal Agent by facsimile that it has given irrevocable instructions for the transfer of the relevant funds to the Fiscal Agent and the name and the account of the bank through which such payment is being made. 7.3 6.3 The Fiscal Agent shall be entitled to deal with each amount paid to it hereunder in the same manner as other amounts paid to it as a banker by its customers provided that: (a) it shall not against the Issuer exercise any lien, right of set-off or similar claim in respect thereof; and; (b) it shall not be liable to any person for interest thereon; (c) money held by it need not be segregated except as required by law; and (d) amounts held by it shall not be held subject to the Client Money Distribution and Transfer Rules. 7.4 6.4 The Fiscal Agent is hereby irrevocably instructed by the Issuer that any funds paid by or by arrangement with the Issuer to the Fiscal Agent under Clause 6.1 above shall apply each amount paid be held in the relevant account referred to it hereunder in accordance with Clauses 8.4 Clause 6.2 above and 8.5 shall be applied towards payment to the Holders so that the Issuer shall have no claim to or on account of any such funds unless such purpose cannot be effected and the Fiscal Agent shall not be obliged to repay any such amount unless or until the obligation to make claim for the relevant payment becomes void or ceases in accordance with under Condition 8 15 (Prescription), in which . In that event it the Fiscal Agent shall repay to the Issuer such portion of such amount as relates to such payment any sums held by paying the same by credit transfer to such account it in accordance with such bank as the Issuer may by notice to the Fiscal Agent have specified for the purpose. The Fiscal Agent shall not be bound to make any payment until satisfied that full payment has been received from the Issuer in cleared fundsClause 6. 7.5 If the Fiscal Agent has not, by 12.00 noon (local time) on the second local banking day before the due date of any payment to it under Clause 7.1, received notification of the relevant payment confirmation referred to in Clause 7.2 it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof and in such event none of the Paying Agents shall be bound to make payment of any amount due on any Covered Bond. If the Fiscal Agent subsequently receives notification of such payment instructions or payment of the amount due, it shall as soon as reasonably practicable notify the other Paying Agents (in the case of the Fiscal Agent) and the Issuer thereof. 7.6 6.5 If the Fiscal Agent has not by 10.00 a.m. (Local Timea.m.) (local time) on the due date of any payment received confirmation from the ICSDs (in accordance with the provisions of Schedule 10 (Duties full amount payable under the Issuer-ICSDs Agreement)) that the records of the ICSDs as to amounts payable on a relevant payment date are identical to the records of the Fiscal Agent as to amounts payable on a relevant payment date under paragraph (b) of Clause 7.1, 6.1 it shall as soon as reasonably practicable forthwith notify the Issuer and the Paying Agents thereof. If the Fiscal Agent subsequently receives confirmation payment of such reconciliation of recordsthe amount due, it shall as soon as reasonably practicable forthwith notify the Issuer and the Paying Agents thereof. 7.7 The Fiscal Agent shall withhold its pre-advice to the relevant clearing systems with respect to redemption payments for Covered Bonds in global form for which an Extended Maturity Date is specified as being applicable in the relevant Final Terms until (i) a confirmation of payment instructions is received by the Fiscal Agent pursuant to Clause 7.2 or (ii) receipt by the Fiscal Agent of the full amount of the relevant payment in accordance with Clause 7.1.